The RBA's assumptions about stress tests, arrears, defaults, unemployment, loan serviceability and further falls (snow ball effect and secondary selling) are all badly flawed.
These clowns created the bubble. Now that it has bursted they are surprised and are badly behind the curve in realizing the magnitude of the house price crash disaster especially it's impact on the wider economy. All they have to do is to look at the VFACTS numbers for new vehicle registration. The real time canary in the mine.
Check out Martin North's tearing apart the RBA bullshit on his YouTube channel.
